The firm wants to expand its acceptance in the United States only to accommodate Chinese tourists, a company official said Thursday. But the CEO of a U.S.-based payments firm expressed skepticism.

They haven't thrown in the towel yet, but comments by top executives at the two big banks suggested that their interest in finding financial services uses for distributed ledgers is wearing very thin.

The system is designed to help banks deliver more personalized financial advice and is meant as a challenge to traditional bank technology vendors.

Letters to eight bank CEOs from the Idaho senator were a rebuttal to calls by some Democrats for financial institutions to cut ties with firearms manufacturers, prison companies and others.

The Democrats are asking the OCC and the CFPB to use their authority to remove Tim Sloan, who became CEO in 2016.

What the FIS-Worldpay deal means for banks; behind the OCC's public rebuke of Wells Fargo; ripple effect feared as Fed mulls lifetime bans for two bankers; and more from this week's most-read stories.

Wells Fargo said Chief Executive Tim Sloan has the full support of its board following a report that directors had reached out to Goldman Sachs' former chief financial officer for his job.

In a unanimous ruling, the court placed new limits on the ability of consumers to sue law firms that handle foreclosures on behalf of mortgage servicers.

U.S. banks accounted for nearly 40% of the financing worldwide to such firms, according to a report by Rainforest Action Network.

Speaking at a press conference, Federal Reserve Chairman Jerome Powell said the bank’s risk management failures have required a dramatic overhaul of its processes.